The former world champion unveiled the two-wheeled vehicle in Edinburgh in the run-up to the World Human Powered Speed Challenge in September.
The Flying Scotsman, as he was known after clinching the 1993 and 1994 world hour records, designed and built “The Beastie”, in which the rider lies face down, with their feet powering a pair of push-pull levers rather than pedals.
The 47-year-old from Ayrshire hopes to beat the 82.8mph record set in 2009 by Canadian Sam Whittingham. The Beastie is designed to reduce drag and was built mainly using old bikes along with stainless steel from saucepans.
Despite the unconventional build, Mr Obree famously won the 1993 record with a bike made using parts from a washing machine, setting a record again the following year.
In September, he will take the bike to a super-smooth, high-altitude road in Nevada for the annual challenge.
“All I can do is go and give it a good punt, but a record would bring renewed recognition,” he said yesterday.
Gareth Williams, founder of Scots travel firm Skyscanner, which is sponsoring the record attempt, added: “With his new bike, The Beastie, Graeme has really challenged conventional design.”